Amicus Therapeutics (NASDAQ:FOLD) Reaches New 1-Year Low – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares hit a new 52-week low during trading on Friday . The stock traded as low as $8.97 and last traded at $9.01, with a volume of 512437 shares. The stock had previously closed at $9.46.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Guggenheim increased their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. StockNews.com lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price target on shares of Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald boosted their price objective on shares of Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Amicus Therapeutics Price Performance

The company has a current ratio of 3.15, a quick ratio of 2.42 and a debt-to-equity ratio of 2.18. The stock has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $10.55. The firm has a market cap of $2.66 billion, a PE ratio of -26.21 and a beta of 0.62.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total transaction of $75,150.00. Following the completion of the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $8,884,273.08. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 22,901 shares of company stock worth $259,863. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOLD. OLD Second National Bank of Aurora purchased a new stake in Amicus Therapeutics during the third quarter valued at $26,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Amicus Therapeutics by 156.9% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,569 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Amicus Therapeutics by 1,705.4% in the 3rd quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at about $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Amicus Therapeutics in the 3rd quarter valued at about $55,000.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.